Headlines:
E-Trade, Others Post Good Nov. Numbers Coinstar Offering Prices at $25/Share Deluxe CEO Mosner to Retire in 2005 1st National of Neb. Offering LifeVision In Brief: Online Resources Freshens Guidance
E-Trade, Others Post Good Nov. Numbers
E-Trade Financial Corp. said its daily average revenue trades rose 17.6% in November, to 144,797.
"We're seeing continued recovery in the stock markets," said R. Jarrett Lilien, the New York-based brokerage's president and chief operating officer, in a phone interview Thursday.
E-Trade had 3.6 million active accounts at the end of the month, up just 0.2% from October.
Other online brokerages have made similar reports. Charles Schwab Corp. of San Francisco announced Tuesday that it had 192,100 daily average revenue trades in November, 25% more than October.
Ameritrade Holding Corp. said last week that its daily average figure in November was 183,000, a 26% month-to-month increase. The Omaha company had 3.6 million accounts at the end of November, a 0.5% increase.
Coinstar Offering Prices at $25/Share
Coinstar Inc. announced Wednesday that its follow-on public offering of 3 million common shares, which it had anticipated would price at $27.07 per share, priced at $25 Monday night.
The Bellevue, Wash., vendor said it expects net proceeds of about $71 million from the public offering after underwriting discounts, commissions, and expenses.
The offering is expected to close on Dec. 20, Coinstar said in a press release Wednesday. It said it plans to use at least half the proceeds to pay down debt, a large chunk of which was incurred in its $235 million acquisition in July of ACMI Holdings Inc., which owned coin-operated games in 18,000 locations through American Coin Merchandising Inc.
Coinstar, known primarily for the coin-counting kiosks it installs in stores, also sells prepaid phone and debit cards under the MasterCard International brand.
Deluxe CEO Mosner to Retire in 2005
Deluxe Corp. chairman and chief executive Lawrence J. Mosner has announced that he will retire next year.
Mr. Mosner, 62, joined the St. Paul check producer in 1995 and became CEO -- its seventh since 1915 -- in 2000.
Stephen Nachtsheim, the chairman of the Deluxe board's governance committee, said in a press release Monday, "There are a number of internal candidates for the CEO position."
The board has also engaged the New York recruiting company Hudson Highland Group Inc. to help in the search.
Deluxe did not specify just when Mr. Mosner would be retiring.
1st National of Neb. Offering LifeVision
First National of Nebraska Inc. has begun providing customers with online wealth planning software from AdviceAmerica Inc.
"We wanted a component for advice that I think addressed the really important financial planning issues that people have," said Tom Haller, a senior vice president with the Omaha bank holding company, in a phone interview.
The software is currently available to customers of First National Bank Omaha, First National Bank Fort Collins Colo., and First National Bank Kansas. An additional 16 regional First National banks will eventually offer it.
"This is one of those items that we think adds considerable value," Mr. Haller said.
Jim Willis, a senior vice president of sales and marketing for AdviceAmerica, of Fremont, Calif., said the LifeVision software helps the user set financial goals, such as saving for retirement or college, and adjust their saving and spending habits over time.
Mr. Haller said the product "is a lead generator for sales and marketing. It's a simple way of engaging customers and pulling them into the financial institutions, using the Internet, and introducing them to products and services that they may not have been aware of."
In Brief: Online Resources Freshens Guidance
The Web banking software vendor Online Resources Corp. has updated its financial guidance for 2005 to reflect its pending acquisition of Incurrent Solutions Inc.
The McLean, Va., company said Tuesday that it projects first-quarter revenue of $13.9 million to $14.3 million, a 44% year-over-year increase. It forecasts net income of $1.3 million to $1.6 million, or 6 to 8 cents a share. It posted net income of $400,000, 2 cents a share, in this year's first quarter.
It projects revenue of $55.5 million to $57.5 million for all of 2005, which would top the amount expected for this year by 35%. Net income is also expected to increase 35% next year, to between $6.4 million to $7.1 million, or 30 to 33 cents a share.
Online Resources' $15 million cash and stock deal for Incurrent Solutions, of Parsippany, N.J., was announced Oct. 18 and is expected to close Monday. Incurrent supplies software that supports credit card Web sites.
Matthew P. Lawlor, Online Resources' chairman and chief executive, said in a press release Tuesday, "We are looking to establish a strategic foundation in card and credit services, with the integration of Incurrent Solutions."
